Independencia Readies Creditor Showdown

Independencia Readies Creditor Showdown

Corporate & Sovereign Strategy

Brazilian meatpacker Independencia, which is in judicial restructuring, has scheduled a creditor meeting for September 28 at its headquarters in Cajamar, SP. The company is expected to unveil a restructuring proposal in the days leading up to the meeting. Independencia’s financial advisors say they are confident a proposal will be accepted by the banks, bondholders and suppliers that make up the creditor group. A key component of the restructuring is DIP financing worth BRL330m. Executives close

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